Longhai Steel, a producer of high-quality steel wire products in the People's Republic of China, announced this morning that the company has completed testing of its initial production of high quality steel wire. Management anticipates ramping up production to full capacity by the end of 2012.
"We are pleased with the testing results from the initial production at our second facility," stated Steven Ross, Executive Vice President of Longhai Steel. "We have met or exceeded all of our internal performance metrics and look forward to expanding our customer base and broadening our end market footprint."
Longhai Steel's growth strategy includes capitalizing on government actions aimed at encouraging industry consolidation via the acquisition of neighboring producers at attractive valuations. The company also plans to grow organically through capacity expansion, broadening its product portfolio, improving operating efficiencies, and continued expansion of technical expertise.
To learn more about the company, visit longhaisteelinc.com
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